LEVEL OF GREEN INNOVATION IN THE FOOD AND BEVERAGE FIRMS IN LAGOS STATE

Abstract

The impact of green innovation on the continued development of firms is increasingly being recognized globally in recent years. However, not many scientific studies have examined the degree to which the adoption of Green Innovation (GIN) influences both the financial and non-financial performance of firms in the food and beverage industry. This study applies Partial Least Square Structural Equation Modeling (PLS-SEM) and Mean Item Rating (MIR) to examine the extent of the adoption of green innovation in food and beverage firms in Lagos State, Nigeria. This research categorised green innovation, also known as eco-friendly innovation into green product innovation (GPRD), green process innovation (GPRO), and green managerial innovation (GMIN). Responses were obtained from a selection of 282 firms, representing about 77 % of the
administered questionnaire. The results show that food and beverage firms are practicing green innovation. However, green managerial innovation practice is relatively high when compared to the adoption of green process innovation and
green product innovation. The results of this paper underscore the understanding that green innovation practices are vital to boosting a firm’s environmental functionality.